ForTrade – forex and CFD broker overview with Islamic account

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ForTrade – forex and CFD broker overview with Islamic account

✅ This Trading Platform is available in United States

Overview of prospective brokers working in online mode: ForTrade

The review of well-known participants of the world financial market, which are hoping to receive a certain (but, most importantly, stable and timely) profits, attracts more and more prospective businessmen / investors who do not plan to invest in traditional businesses. But even the most desperate investors do not expect that they will move to the big city to elderly and very wealthy relatives who will give them the initial capital, and also tell how it can be increased several times without violating the laws. This happens only in the tales of the Brothers Grimm or other literature of a similar nature.

No one will give, even to his own son, an algorithm for earning money in a brokerage office. This is due to their relevance (the fact that yesterday cost hundreds of thousands of dollars, today it can depreciate almost to zero), with the ability to instantly navigate in a difficult situation (invested in the military technical cooperation a huge amount: how to rationally act: sell them at a loss or wait a few days, when the crypt will again enter its corridor). Practice shows that the crypto currency has sufficiently promising development methods, which must be carefully analyzed and applied only in the case of a 100% probability of success.

What financial and technical guarantees does ForTrade give its customers

Failure to fulfill its obligations to partners was always severely punished by the parties to the transaction. If the representatives of the broker promise something to their counterparts, there is no doubt that all the promises will be fulfilled, otherwise 2-3 months later, the broker will be forced to declare his insolvency and provide the clients with a detailed schedule of debt repayment and other operations.

Customer Safety

Serious intentions of the firm are evidenced by the accounts prepared for the MetaTrader 4/5 operation, ECN accounts, as well as the application developed for ForTrade, which allow participants to work in both stationary and online modes, without fear of various fraudulent schemes.

The invested money of clients can be used for further work of traders, applying them in a wide variety of financial activities.

All users’ funds are stored in the accounts of the most liquid banks, which allows them to be kept in the period of local financial troubles, and during the world economic crises.

Regulators of the activity of the broker

One of the most important indicators of the reliability of the trading platform in question are the regulators that control the company’s activities, guaranteeing the fulfillment of all undertaken obligations. It is these moments that are the determining factors in choosing a prospective broker. The Russian Central Regulator of the financial market and the Cyprus Securities and Exchange Commission provide security and reliability for the company.

They are 100% guarantor of all the broker’s agreements, so traders are not afraid to open an account with ForTrade for further financial transactions. In case of any doubt, each trader can easily analyze how the company in question is performing a financial comparative analysis with other representatives of this market and make a final decision in favor of the broker with the most optimal options for cooperation.

In practice, all the knowledge gained can be consolidated on a demo account created for ForTrade, which allows you to conduct financial transactions without investing personal funds.

Training of beginners and experienced traders

On the company’s web-resource you can always consider in detail how this broker works, where it is best to start trading, review the training video, get acquainted with the most pressing issues (in the section of the QQQ) and chat with the most experienced participants of Internet trading. Many clients of the broker who have passed all the stages of development of this sphere, recommend never to give in to excitement, but to work exclusively in those areas where they are best understood.

Trading specifications of ForTrade

Every trader should always carefully examine the terms and conditions of the broker to ensure that the funds invested allow him to receive at least a minimum profit.

Trading conditions

On the site you can open not only demo options, but also Islamic, ECN-accounts, Prime, cent and standard trading accounts. This makes it possible, based on ForTrade reviews, to find out which of the presented options is most suitable for the trader, taking into account his interests, financial capabilities and other individual characteristics.

On the web-resource are installed:

● A minimum account of 1 cent.

● Presence of automatic trading and mobile forex.

● Daily round-the-clock support for participants.

● There is a commission for the services provided.

● Account currencies: Russian ruble, euro and US dollar.

● The bonus for each deposit is 50%.

How to replenish your account and withdraw funds

Most users of the web resource believe that the prepared ways of input / output of money do not create special problems. The comments about ForTrade show that you can withdraw money or replenish your trading account using the following options:

● Plastic cards of financial institutions.

● Cash at the reception points.

Assets of the company that use clients for profit

To the category of the most popular financial transactions on this site, in addition to contracts with currency pairs, one can classify CFD transactions, trade in crypto-currencies, commodities, precious and industrial metals, as well as some securities.

Fortrade Review: We Ruthlessly Review This Leading CFD Broker

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Last Updated on November 19, 2020

Overview

Risk Warning: Your Capital is at Risk

Fortrade is a UK-based derivative brokerage firm that offers customers a platform for trading forex and Contracts for Difference (CFDs). CFDs allow traders to speculate on the price of assets without actually owning them in their accounts. Fortrade offers customers CFDs on forex, cryptocurrencies, stock CFDs, index CFDs, precious metals, energy products, agricultural products, US Treasuries and ETFs.

Fortrade traders have a choice between the broker’s proprietary Fortrader platform and the popular MetaTrader4 (MT4) platform. Both are available via web-based, desktop or mobile interface. Traders can access over 300 financial assets and employ leverage of up to 1 to 200 on forex pairs and 1 to 50 on commodity and index CFDs.

Fortrade emphasizes its user-friendly technology, scalable platform and its regulation by one of the top international regulatory bodies – the Financial Conduct Authority – as its strengths. Traders looking for a broker that is regulated across the European Union and offers access to CFDs across several major asset classes may want to investigate the offerings at Fortrade. Please remember that trading CFDs exposes traders to the possibility of losses. While Fortrade won’t allow you to lose more than you have invested in your Fortrade account, CFD trading is for experienced traders.

This Fortrade review will cover all of the important details about the broker to help you make an informed opinion about its products and services.

Why Choose Fortrade?

Trustworthy broker (we scored Fortrade 80/100 in our broker trust rating)

International Telegraphic Transfer (TT) Fees are passed onto the customer for withdrawals (approx. $40)

Extensive educational tools available, however, this may be quantity over quality

Fees charged for wire transfers and these can take up to 5 business days to process

Handy tutorial to help get you started with the platform

Withdrawals can take up to 15 business days for debit/credit cards

Islamic accounts available and run in accordance with Sharia law (these require a min. deposit of $2,000, however)

Platform may be too basic for some traders but the MT4 platform is also supported by Fortrade

Support and website available in multiple languages

12-hour customer support via email, live chat and phone between 9 am and 9 pm

What’s Good About Fortrade? What Could Fortrade Do Better?

Fortrade – Essential Information

www.Fortrade.com Overview Leading provider of online trading solutions for individual and institutional clients Our Overall Rating Broker Trust Rating 80/100 Founded 2020 Product CFDs
Forex Markets Stock CFDs
Index CFDs
Forex
Cryptocurrencies
Commodities
US Treasuries
ETFs Countries Served 150+ (Full list below) Minimum Deposit £100 (with a suggestion of £500) Fees Fortrade is a no-comission broker, recieving its compensation in the form of the market bid/ask spreads on each instrument. (See below for a full list of fees) Regulator(s) Financial Conduct Authority (FCA) Customer Support Between 9 AM and 9 PM daily by phone, email or live chat Demo Account Yes

History of Fortrade

Fortrade is operated by Fortrade Limited. The privately held firm was incorporated in the United Kingdom on July 22, 2020, under the name Integrisafe Ltd. The firm changed its name to Fortrade on May 19, 2020, and was registered by the Financial Conduct Authority (FCA) on May 20, 2020.

Fortrade has headquarters in London, United Kingdom. Its Financial Reference Number issued by the Financial Conduct Authority is 609970.

Fortrade provides customers with customer support 12 hours a day between 9 am and 9 pm local time in the United Kingdom. During this period, traders can contact the firm by phone or by live chat.

Traders can also contact Fortrade customer support by email and through an online form where they can leave a callback number and/or email for Fortrade to contact them. Traders can view the Fortrade website in English, German, Spanish, French, Croatian, Italian, Dutch, Polish, Portuguese, Slovene, Swedish, Russian, Arabic, Albanian and Macedonian. Phone customer support is also available in multiple languages.

Where Does Fortrade Operate?

Fortrade serves clients in countries across the globe. However, Fortrade is not able to accept applications from residents of the following countries:

  1. Afghanistan
  2. Algeria
  3. Angola
  4. Australia
  5. Belgium
  6. Burundi
  7. Cambodia
  8. Canada
  9. Central African Republic
  10. Chad
  11. Congo Republic
  12. Cuba
  13. Democratic Republic of the Congo
  14. Eritrea
  15. Guinea-Bissau
  16. Guyana
  17. Haiti
  18. Hong Kong
  19. Iran
  20. Iraq
  21. Israel
  22. Japan
  23. Korea (North)
  24. Laos
  25. Liberia
  26. Libya
  27. Myanmar
  28. New Zealand
  29. Panama
  30. Papua New Guinea
  31. Puerto Rico
  32. Singapore
  33. Somalia
  34. South Sudan
  35. Sudan
  36. Syria
  37. Tajikistan
  38. Turkmenistan
  39. Uganda
  40. United States
  41. Uzbekistan
  42. Venezuela
  43. Yemen
  44. Zimbabwe
  45. US Dependencies including:
  46. American Samoa/Guam/Northern Mariana Is/Puerto Rico/US Minor Outlying Islands/US Virgin

Fortrade supports 15 different languages on its platforms. The website is available in:

English, German, Spanish, French, Croatian, Italian, Dutch, Polish, Portuguese, Slovene, Swedish, Russian, Arabic, Albanian and Macedonian

Can I Trust Fortrade?

We believe Fortrade is trustworthy since it is registered with one of the leading international regulatory bodies. The Financial Conduct Authority (FCA) regulates the firm in the United Kingdom (FCA registration number FRN 609970), while the Markets in Financial Directive (MiFID) allows the company to operate as a regulated entity throughout the European Union.

Fortrade clients can also take comfort in the fact that the broker’s financial statements are audited by Fisher Sassoon and Marks – one of UK’s specialist financial services accounting firms.

Regulator Countries Covered Protection Offered Additional Protection Offered
Financial Conduct Authority (FCA) Austria, Belgium, Bulgaria, Croatia, Czech Republic, Denmark, Estonia, Finland, France, Germany, Gibraltar, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Liechtenstein, Lithuania, Luxembourg, Malta, The Netherlands, Norway, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, UK. All client funds are held in a segregated client bank account Financial Services Compensation Scheme (FSCS) may cover up to £50,000 if Fortrade fails.

Financial Conduct Authority

The UK’s Financial Conduct Agency (FCA) regulates Fortrade’s activities in the United Kingdom.

The FCA is widely respected as a leader in financial regulation. In addition, the United Kingdom scores highly in Transparency International’s rankings of countries based on their corruption perceptions index meaning the UK is a pillar of anti-corruption. Fortrade’s customers in the United Kingdom are protected by the UK-based Financial Services Compensation Scheme (FSCS), which was established to protect consumers when authorized financial services firms fail. FSCS pays compensation up to £50k to customers in the United Kingdom if Fortrade is unable to pay. Fortrade’s Financial Services Register reference number is 609970.

Who Runs Fortrade?

The CEO of Fortrade Ltd., since April 2020, has been Nick Collison. Nick has over 20 years’ worth of Senior Management experience within the financial services industry including proprietary trading, fully systematic algorithmic trading and forex & CFD matched principle broking. Prior to and contemporaneous with joining Fortrade, Collison served as a Director at Saxon Cambridge Algorithmic Research Ltd. (2009 to 2020). He served as a Managing Director at Saxon Financials between 2000 and 2020.

Fortrade Trading Products

Fortrade offers customers CFD trading in over 300 instruments grouped into nine categories: forex, cryptocurrencies, stock CFDs, index CFDs, precious metals, energy products, agricultural products, US Treasuries and ETFs.

The following are the products offered for trading in each of these categories:

1) Forex

  • AUD/USD
  • EUR/USD
  • GBP/USD
  • NZD/USD
  • USD/CAD
  • USD/CHF
  • USD/JPY
  • AUD/CAD
  • AUD/CHF
  • AUD/JPY
  • AUD/NZD
  • CAD/CHF
  • CAD/JPY
  • CHF/JPY
  • EUR/AUD
  • EUR/CAD
  • EUR/CHF
  • EUR/GBP
  • EUR/JPY
  • EUR/NZD
  • GBP/AUD
  • GBP/CAD
  • GBP/CHF
  • GBP/JPY
  • GBP/NZD
  • NZD/CAD
  • NZD/CHF
  • NZD/JPY
  • EUR/DKK
  • EUR/HUF
  • EUR/ILS
  • EUR/NOK
  • EUR/PLN
  • EUR/SEK
  • EUR/TRY
  • EUR/ZAR
  • GBP/SGD
  • GBP/TRY
  • USD/CNH (United States dollar (USD) to China Offshore Spot (CNH) exchange rate)
  • USD/DKK
  • USD/HKD
  • USD/HUF
  • USD/ILS
  • USD/MXN
  • USD/NOK
  • USD/PLN
  • USD/RUB
  • USD/SEK
  • USD/SGD
  • USD/TRY
  • USD/ZAR

2) Cryptocurrencies

  • Bitcoin / USD
  • Dash / USD
  • Ethereum / USD
  • Litecoin / USD

3) Indices

  • AEX25
  • ASX 200
  • CAC 40
  • China A50
  • Dow 30
  • Europe 50
  • FTSE 100
  • FTSE MIB
  • Germany 30
  • HSI
  • IBEX 35
  • NASDAQ 100
  • NIKKEI 225
  • Russell 2000
  • S&P 500
  • SMI (Swiss Market Index)
  • TRYBASK / TRY (CFD on TRYBASK, the Turkish Lira index)
  • USDX
  • WIG20 (CFD on the WIG20 stock market index of the 20 top companies in Poland)

4) Stocks

Customers can trade CFDs on some of the most popular shares from these countries and regions:

  • United Kingdom
  • Germany
  • France
  • Spain
  • Italy
  • Western Asia
  • United States
  • Other European Countries

5) Precious Metals

  • Copper
  • Gold (EUR)
  • Gold (GBP)
  • Gold (USD)
  • Gold Gram / Turkish Lira (GAU / TRY)
  • Palladium
  • Platinum
  • Silver

6) Energy Products

  • Brent Oil
  • Crude Oil
  • Gasoline
  • Heating Oil
  • Natural Gas

7) Agricultural Products

  • Corn
  • Cotton
  • Soybeans
  • Sugar
  • Wheat

8) US Treasuries

  • US 10Y Note
  • US 30Y Bond
  • US 5Y Note

9) ETFs

  • SQQQ (ProShares UltraPro QQQ Short ETF CFD)
  • TQQQ (ProShares UltraPro QQQ Long ETF CFD)
  • United States Oil Fund LP (USO)

Fortrade Account Types

Fortrade keeps things simple and only offers one standard trading account to its customers. To open an account, Fortrade requires a minimum initial deposit of €/$/£100 depending on the base currency of your account. However, the broker recommends that traders make an initial minimum deposit of at least of €/$/£500 in order to maximize the benefits of trading with Fortrade.

After signing up for an account, Fortrade directs you to its practice (demo) mode, which provides real-time charts and quotes for hundreds of financial assets. You can use the practice mode to explore all the features, tools and products available inside the live trading platform.

There is no time limit to the practice account. Fortrade deposits an initial notional sum of €10,000 of practice money into your trading account, allowing you to learn and practice online trading in a real trading environment.

Fortrade also offers an option to open an Islamic account. These accounts pay no rollover interest on overnight positions in accordance with Sharia law. Islamic accounts require a minimum balance of $2,000.

Fortrade Spreads and Fees

Fortrade receives its compensation in the form of the market bid/ask spreads on each instrument.

The most liquid forex pairs such as EUR/USD and GBP/USD and USD/JPY have recently had average spreads of 2 pips. USD/CAD, USD/CHF and EUR/CHF have recently had average spreads of 4 pips, but depending on the time of days these have been wider. All of these spreads are not fixed spreads and may vary with factors such as liquidity and volatility.

Average spreads over a recent three-month period were $100 for bitcoin, $6.5 for Dash, $5 for Ethereum and $7 for Litecoin. These are not fixed spreads and may vary with factors such as liquidity and volatility.

Spreads vary by index and depend on factors such as liquidity and volatility. Recent sample average spreads include AUD 5 on AUD 200, £2 on FTSE 100, 2.5 on GER30, 1.5 on NASDAQ 100 and 0.11 on USDX.

Fortrade offers trading on a wide range of stock CFDs. Traders can consult the Fortrade website for details about spreads on stock CFDs.

Spreads vary by commodity and depend on factors such as liquidity and volatility. Recent sample average spreads include 0.75 for corn, wheat and soybeans; 0.07 for Brent Oil; 0.008 for natural gas; $0.04 on crude oil; $0.45 for gold and $0.04 for silver.

Recent average spreads have been 0.07 for US 5Y Note and US 10Y Note and 0.09 for US 30Y Bond.

Recent average spreads have been 0.14 for SQQQ and TQQQ and 0.03 for USO.

Other relevant fee information:

Withdrawal Fees: Any International Telegraphic Transfer (TT) Fees incurred by Fortrade are passed on to the customer. Most International TTs are approximately $40.

Overnight Funding Fees: This overnight Fortrade fee (or credit) is either added to or subtracted from a trader’s account when a position remains open past a certain period of time. Traders can obtain information on overnight funding rates on the website.

Dormancy Fee: If for any consecutive period of 180 days, you do not trade on your Client Account, then Fortrade considers the Client Account to be inactive or dormant. Fortrade charges a monthly administrative fee on dormant accounts of USD $10.00 (or a similar amount in such other currency). Fortrade stops charging this fee if the balance in the client’s account reaches $0.

Account Requirements

When you click on the blue Sign up button on the Fortrade website, Fortrade asks you to enter your name, email and a mobile number.

Fortrade then asks you to choose your country of origin from a drop-down menu, the base currency for your account (USD, EUR or GBP) and a password for the account. You’ll also need to fill in your date of birth and physical address.

On the next screen, Fortrade asks you a few questions about your financial and employment situation and your trading goals. The whole sign-up process only takes a few minutes.

To pass their identity verification, you will need to upload one document for proof of identity and one for proof of address. You can fax, email or upload these documents to Fortrade.

Category Acceptable Documents
Proof of Identity
  • International travel passport
  • Government-issued driver’s license
  • Government-issued national/state/province identity card (including European ID card)
  • Military ID card
  • Proof of Address
  • Utility bill issued within the last 3 months
  • Financial statement issued by a bank, credit card company, insurance company or investment firm
  • Telecommunication service invoice (i.e. telephone/mobile service, internet service or pay television service) issued within the last 3 months
  • Ownership document or lease agreement
  • Traders can deposit and withdraw funds with Fortrade using one of several different methods:

    • Credit Card
    • Neteller
    • Skrill
    • Wire Transfer
    • Bitcoin

    Credit card, Neteller, Skrill and Bitcoin deposits are generally instant and incur no fees, while wire transfers have the following stipulations:

    • The minimum threshold for wire transfer is 250 (£/$/€)
    • Wire transfers incur a transaction fee of up to 40 (£/$/€). The fee is dependent on your bank and how you choose to pay the fees.
    • Wire transfers take up to 5 business days for funds to be credited to Fortrade’s banking account.

    Fortrade requires a minimum deposit of £100, but the broker suggests customers deposit at least £500.

    To ensure you can cover any losses you might incur on your positions, Fortrade requires sufficient collateral or margin. The margin available in your account will limit the size of the positions you can open.

    Fortrade requires a specific margin to be available in your account for each trade that you execute.

    You can see Fortrade’s Margin Rates list under the “trading conditions” section of their website.

    Traders who fall below the Fortrade margin requirements risk receiving a margin call and having their position closed prematurely.

    Withdrawals and Withdrawal Times

    To withdraw funds from your Fortrade account, you log in to the trading platform with your Fortrade credentials and go to “Deposits/Withdrawals” located inside the drop-down menu in the right corner of your screen.

    You then select the preferred withdrawal method and enter the amount and any other account information that may be required. Fortrade processes all requests within two business days after they are submitted.

    Fortrade has a strict policy that funds can only be returned to the source in which the deposit was made. Sums in excess of the original deposit may be withdrawn by providing an alternative withdrawal method (for example bank wire transfer, Skrill or Neteller). In order to wire money to your bank account, Fortrade needs a bank statement from your account dated in the past three months. This statement must clearly show:

    • Your Full Name
    • Your Full Address
    • Your Full Bank details (Bank/Sort code and Account Number)

    Withdrawals made by Bank Wire Transfer usually take up to 5 business days to reach your account.

    Withdrawals to credit/debit cards can sometimes take up to 15 business days to reach your account.

    Fortrade Platform Review

    The Fortrade proprietary software has three types of platforms from which to choose: Desktop Fortrader, Web Fortrader and Mobile Fortrader.

    When you open the web-based Fortrader platform, the system opens with a tutorial on how to begin using its tools and functionality. The system also defaults you to the practice mode. Both of these are nice touches since many other platforms simply place you in live mode with no instructions on how to trade using their software.

    The main trading screen of the Fortrader platform has a clean and simple layout:

    The platform has a very generic feel to it, which isn’t necessarily a bad thing. It simply depends on what you’re looking for. Beginner traders are likely to appreciate the way all of the instruments are sorted by category on the left side of the screen. The ticket similarly doesn’t have a lot of bells and whistles, but the basics to execute an order.

    The charting features of the Fortrader platform have fewer drawing tools and technical indicators than some of the most advanced charting packages found at bigger firms such as TradeStation or Interactive Brokers. However, Fortrade encompasses some advanced “hand-holding” tools that some of the bigger firms often overlook. For example, there is the link to Trading Central, which provides actionable real-time trading advice.

    It seems that novice traders could take advantage of this link to Trading Central and use these tools to become more familiar with trading patterns.

    Below the charting section is a basic position management section with open and closed trades. We wished there was more functionality and search incorporated in this section to facilitate trade management for more active traders.

    Overall, the Fortrader software is adequate if not a little bit on the basic side. While beginning traders will appreciate its ease of use and simplicity, more active and advanced traders may opt for the MetaTrader 4 (MT4) software as an alternative. Fortunately, Fortrade supports this option, which gives traders of all levels a reason to be happy.

    Fortrade Demo Account

    After you sign up for a Fortrade account, the broker directs you to the practice or demo account. Traders receive €10,000 in virtual funds in this account and can practice on it for as long as they wish.

    To switch from Practice trading mode to Real trading mode, simply click on the “Switch to Real” button located both in the top right corner of your screen and inside your account drop-down menu. At this point, if you have not yet fully registered your account, you will then be prompted to do so in order to start trading with real money.

    The demo accounts look like the live accounts and traders get the same functionality.

    Fortrade Education Resources

    Fortrade has several resources on the Education tab on its website. This section is broken down into four sections: Our Trading Academy, Highlights, Market Analysis and FX & CFD Trading Tools.

    Our Trading Academy

    Forex and CFD eBooks: These books explore the vocabulary used by both novice and professional traders.

    Beginner Trading Courses: Video courses covering novice topics such as basic forex terms, winning trading tactics and order types among others.

    Advanced Trading Courses: Video courses covering more advanced topics relating to commodities, futures, CFDs and stocks.

    Trading Videos: Videos ranging from a few minutes in length to almost an hour that cover everything from technical analysis to capital management to trading psychology.

    Top Day Trading Strategies: Strategies geared toward short-term focused traders.

    Highlights

    Forex Trading Webinars: Free webinars covering a variety of trading topics.

    Guardian Angel: A new Fortrade tool, the Guardian Angel is an automated professional system which allows you to receive notification messages while trading. The messaging tool delivers real-time trading feedback in accordance with the user’s personal preferences and investment goals.

    Trading Central and Trading Central Analysis: Real-time comprehensive research.

    Market Analysis

    This section contains real-time fundamental and technical analysis of markets. There is also an economic calendar and a historical overview of markets.

    FX and CFD Trading Tools

    This section contains quantitative tools traders may use to manage their trading: currency converter tool, pip value calculator, swap rates calculator and margin percentage calculator.

    While the Fortrade education section is fully loaded with an endless amount of resources, many of these came across as stock and generic to us. As with many trading sites, unfortunately, there seems to be a greater emphasis on quantity than quality.

    Fortrade Sign-Up Bonuses and Promotions

    Fortrade offers two types of bonuses to traders: a Balance Bonus and a Credit Bonus.

    Balance Bonus – This is the standard bonus Fortrade grants you when you make a deposit to your account. This bonus is entirely at Fortrade’s discretion.

    Credit Bonus – This is an alternative bonus with additional Terms and Conditions. It is also entirely at Fortrade’s discretion.

    Fortrade grants Balance Bonuses to accounts only after new customers complete the full document verification process. Traders cannot withdraw Balance Bonuses until they reach their target volume, which is set according to the bonus amount given.

    The client has to fill a trading requirement of 0.1 lot for every 1 USD/GBP/EUR bonus given in order to reach their target volume. For example, if a client received a 100 USD/GBP/EUR Balance Bonus, he will have to trade 10 lots before his Balance Bonus is converted to balance and becomes a part of his capital. Traders can consult the Fortrade website for additional details about this bonus.

    Customers have to reach their target volume before they can lose or withdraw their Credit Bonus. The target volume is set according to the bonus amount given.

    If a client fails to reach their target volume, Fortrade removes the credit bonus automatically when their equity falls below the credit bonus amount. Essentially, this stops you out and your open positions get closed accordingly.

    If a customer fulfills the required amount of 0.10 lots for every EUR/ USD/GBP of cash credit bonus, the bonus automatically become a part of capital and can be withdrawn or used for trading.

    A customer can reactivate a Credit Bonus if they re-deposit at least 30% of its value.

    Customers should consult the Fortrade website for more details about how both of these bonuses work.

    Please note: As of January 2020, brokers that are regulated within the EU are unable to offer sign-up bonuses to customers. This is due to the MiFID legislation mentioned previously which aims to create more transparency and protection for traders.

    Why Fortrade?

    Because we deliver safe and reliable products, and because we’re dedicated to you and your success.

    Clear and Simple Trading

    Secure, Trusted, Reliable

    Bulls and Bears, Any Time, Any Where

    Maximum Potential, Minimum Effort

    Pushing You Forward

    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 74% of retail investor accounts lose money when trading CFDs with this provider.
    You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all,
    but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek
    independent advice. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility
    for any use that may be made of the information and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of
    this information, consequently any person acting on it does so entirely at their own risk.

    The information on this site is not directed at residents of the United States or Belgium and is not intended for distribution to, or use by, any person in any country
    or jurisdiction where such distribution or use would be contrary to local law or regulation.

    When performing transactions in the OTC Forex market, the possibility of making a profit is inextricably linked with the risk of losses. Conducting transactions
    can lead to the loss of part or all of the initial investment. Before commencing operations, make sure you understand the risks involved and have sufficient skills to invest.

    The information on this site is not directed at residents of the United States or Belgium and is not intended for distribution to, or use by, any person in any country
    or jurisdiction where such distribution or use would be contrary to local law or regulation.

    CFDs and margin FX are leveraged products that carry a high level of risk to your capital. You should only trade with money you can afford to lose. Be Aware: You can lose all, but not more than the balance of your Trading Account. You do not own, or have any rights to, the underlying assets. Past performance is no guarantee of future performance. This information is intended to be general in nature and is not financial product advice. Any advice contained on this website or provided to you by Fort Securities Australia Pty Ltd is general advice only and has been prepared without considering your objectives, financial situation or needs. Before acting on any information, you should consider the appropriateness of the information provided and the nature of the relevant financial product having regard to your objectives, financial situation and needs. We encourage you to obtain independent financial advice and consider our Financial Services Guide (FSG) and Product Disclosure Statement (PDS) before deciding to enter into or obtain any financial products issued by us.

    The information on this site is not directed at residents of the United States or Belgium and is not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. Be Aware: You can lose all, but not more than the balance of your Trading Account. These products may not be suitable for all clients therefore ensure you understand the risks and seek independent advice. This material does not constitute an offer of, or solicitation for, a transaction in any financial instrument. Fortrade accepts no responsibility for any use that may be made of the information and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information, consequently any person acting on it does so entirely at their own risk.

    CFD trading is only available in provinces in which Fortrade Canada Limited is authorised, which include British Columbia and Ontario ONLY.

    Muslim Forex Brokers

    A list of Forex brokers that are friendly to Muslim Forex traders, allowing them to open the accounts without overnight interest (no Riba accounts). Such brokers can be very useful for traders from Iran, Saudi Arabia and other countries of Middle East. You will find 139 brokers listed in the table below.

    Forex Broker Min. Account Size Broker Rating Min. Position Size Payment Max. Leverage Serious Regulation Spread US
    ExnessExness $1 7.4 0.01 1:2000
    • MetaTrader 4
    • MetaTrader 5
    • Mobile Trading Platform
    • Web Trading
    • IFSA (St. Vincent and Grenadines), 21927
  • RoboForexRoboForex $10 5.0 0.01 1:2000
      • MetaTrader 4
      • MetaTrader 5
      • cTrader
      • WebTrader
      • R Trader
      • CySEC, 191/13
      • IFSC (Belize), IFSC/60/271/TS/14
      • NBRB (Belarus), 15
    InstaForexInstaForex $1 5.8 0.0001 1:1000
      • MetaTrader 4
      • MetaTrader 5
    FXGloryFXGlory $1 7.1 0.01 1:3000
      • MetaTrader 4
      • WebTrader
    AAFX TradingAAFX Trading $100 9.7 0.01 1:2000
      • MetaTrader 4
      • Web Trading
      • WebTrader
      • ASIC, 4240010
      • FSA (St. Vincent & the Grenadines), 22916 IBC
    FXOpenFXOpen $1 9.0 0.001 1:500
    Forex4youForex4you $50 5.3 0.01 1:1000
    LiteForexLiteForex $50 5.6 0.01 1:500
    ForexMartForexMart $1 4.4 0.01 1:500
    AMarketsAMarkets $1 7.4 0.01 1:1000
    AvaTradeAvaTrade $100 3.0 0.01 1:400
    AGEAAGEA $1 6.3 0.01 1:500
    easyMarketseasyMarkets $100 6.1 0.01 1:400
    XTBXTB $1 6.4 0.01 1:30
    FinotecFinotec $200 0.1 1:200
    iFOREX (Vestle)iFOREX (Vestle) $100 4.2 0.01 1:30
    FIBOGroupFIBOGroup $1 7.4 0.01 1:1000
    GCIGCI $500 7.0 0.1 1:400
    One Financial MarketsOne Financial Markets $250 0.01 1:30
    ATC BrokersATC Brokers $5,000 1 1:200
    FXCLFXCL $1 7.8 0.01 1:500
    Admiral MarketsAdmiral Markets $100 7.5 0.01 1:500
    PFDPFD $1 0.01 1:300
    UFXUFX $100 6.6 0.01 1:200
    RFXTRFXT $50 0.01 1:400
    CPT MarketsCPT Markets $500 0.01 1:500
    FXGMFXGM $200 0.1 1:30
    AAAFxAAAFx $300 3.0 0.01 1:30
    HotForexHotForex $5 7.7 0.01 1:1000
    PepperstonePepperstone $200 6.5 0.01 1:500
    AccentForexAccentForex $10 8.8 0.01 1:500
    ProfiforexProfiforex $1 6.0 0.01 1:500
    Trader’s WayTrader’s Way $1 7.5 0.01 1:1000
    Grand CapitalGrand Capital $10 8.4 0.01 1:500
    AxioryAxiory $500 0.01 1:400
    Larson & Holz ITLarson & Holz IT $250 0.01 1:500
    ICM CapitalICM Capital $200 0.01 1:30
    IFC MarketsIFC Markets $1 8.2 0.001 1:400
    NordFXNordFX $10 4.6 0.01 1:1000
    AxiTraderAxiTrader $1 6.4 0.01 1:400
    Blackwell GlobalBlackwell Global $10,000 0.01 1:30
    ThinkMarketsThinkMarkets $250 2.8 0.01 1:500
    FxNetFxNet $50 7.0 0.01 1:500
    GAINSYGAINSY $10 9.1 0.01 1:500
    NatureForexNatureForex $20 0.01 1:1000
    WeltradeWeltrade $25 7.8 0.01 1:500
    GBE brokersGBE brokers $1,000 5.5 0.01 1:500
    Forex OptimumForex Optimum $10 8.3 0.01 1:500
    Euro Pacific BankEuro Pacific Bank $2,500 0.01 1:100
    Traders TrustTraders Trust $50 0.01 1:500
    XGLOBAL MarketsXGLOBAL Markets $500 0.01 1:30
    NSFXNSFX $300 8.5 0.01 1:30
    USGFXUSGFX $100 0.01 1:500
    TenkoFXTenkoFX $10 9.0 0.01 1:500
    Invast Financial ServicesInvast Financial Services $100 0.01 1:400
    Hantec MarketsHantec Markets $1,000 0.01 1:30
    FirewoodFXFirewoodFX $10 7.0 0.01 1:1000
    Vinson FinancialsVinson Financials $200 9.1 0.1 1:500
    Cornèr TraderCornèr Trader $1 0.01 1:200
    ETX CapitalETX Capital $100 0.01 1:400
    TickmillTickmill $100 4.5 0.01 1:500
    WesternFXWesternFX $25 0.01 1:500
    Forex.eeForex.ee $10 0.01 1:500
    Trust CapitalTrust Capital $10,000 0.1 1:400
    LCGLCG $10,000 0.1 1:200
    ValutradesValutrades $100 0.01 1:400
    TradeoTradeo $250 0.01 1:200
    FXPRIMUSFXPRIMUS $2,500 0.01 1:500
    FXGlobeFXGlobe $250 0.01 1:500
    Capital IndexCapital Index $100 0.02 1:200
    TrioMarketsTrioMarkets $500 6.4 0.01 1:300
    FxGrowFxGrow $100 8.7 0.01 1:300
    AlvexoAlvexo $500 0.01 1:400
    Trade12Trade12 $250 7.8 0.01 1:400
    Trade360Trade360 $500 0.005 1:200
    Titan FXTitan FX $200 0.01 1:500
    ForexChiefForexChief $50 9.0 0.01 1:400
    VARIANSEVARIANSE $500 0.01 1:100
    CM TradingCM Trading $250 8.7 0.01 1:200
    SuperForexSuperForex $1 8.2 0.01 1:1000
    AAATradeAAATrade $500 8.9 0.01 1:200
    TempleFXTempleFX $50 0.01 1:400
    Trade FintechTrade Fintech $250 8.7 0.01 1:200
    JCMFXJCMFX $10 0.01 1:1000
    FX GiantsFX Giants $100 0.01 1:30
    BDSwissBDSwiss $200 0.01 1:400
    Land-FXLand-FX $300 8.9 0.01 1:500
    CIBFXCIBFX $500 5.3 0.01 1:200
    LQDFXLQDFX $20 4.9 0.01 1:500
    CFDTimesCFDTimes $5 0.01 1:500
    FortradeFortrade $500 0.01 1:100
    Turnkey ForexTurnkey Forex $5 9.5 0.01 1:400
    TryMarketsTryMarkets $500 0.01 1:500
    CMS TraderCMS Trader $500 0.01 1:400
    TriumphFXTriumphFX $100 0.01 1:500
    TifiaTifia $10 0.01 1:1000
    Swiss MarketsSwiss Markets $200 0.01 1:500
    FXB TradingFXB Trading $250 5.5 0.01 1:500
    World ForexWorld Forex $1 10 0.01 1:500
    AMEGAAMEGA $1 7.8 0.01 1:1000
    Fullerton MarketsFullerton Markets $200 0.01 1:500
    Capital Street FXCapital Street FX $100 0.01 1:3500
    ETO MarketsETO Markets AUD200 0.01 1:400
    Equiti Global MarketsEquiti Global Markets $500 0.01 1:500
    JAFXJAFX $10 0.01 1:500
    Alfa Capital (ex-Alfa-Forex)Alfa Capital (ex-Alfa-Forex) $1 7.4 0.01 1:100
    AlpariAlpari $1 4.6 0.01 1:1000
    Boston Merchant FinancialBoston Merchant Financial $50 5.5 0.01 1:400
    CryptoRocketCryptoRocket $10 0.01 1:500
    DukascopyDukascopy $100 4.9 0.001 1:200
    eToroeToro $200 8.5 0.1 1:400
    EverFXEverFX $2,500 0.01 1:500
    FBSFBS $1 7.7 0.01 1:3000
    FreshForexFreshForex $200 9.3 0.01 1:1000
    FXTMFXTM $10 8.5 0.01 1:2000
    HYCMHYCM $100 7.8 0.01 1:325
    IronFXIronFX $100 4.2 0.01 1:30
    JustForexJustForex $1 8.4 0.01 1:3000
    OctaFXOctaFX $100 6.7 0.01 1:500
    OrbexOrbex $200 7.8 0.01 1:500
    PaxForexPaxForex $10 8.7 0.0001 1:500
    TFI MarketsTFI Markets $50 0.01 1:500
    Vantage FXVantage FX $200 6.0 0.01 1:500
    XM (ex-XM.COM)XM (ex-XM.COM) $5 5.2 0.01 1:888
    Fort Financial ServicesFort Financial Services $1 9.1 0.01 1:1000
    FxProFxPro $100 8.0 0.01 1:50
    MultiBankMultiBank $50 0.01 1:500
    UBFXUBFX $1 0.01 1:400
    FXLinkedFXLinked $10 0.1 1:400
    RCProRCPro $500 0.01 1:200
    FondexFondex $250 0.01 1:30
    One Global MarketOne Global Market $10,000 0.01 1:30
    Blueberry MarketsBlueberry Markets $100 0.01 1:500
    Credit Financier InvestCredit Financier Invest $1 0.01 1:30
    Olymp TradeOlymp Trade $2 10 0.01 1:500
    LegacyFxLegacyFx $500 0.01 1:200
    AMP GlobalAMP Global $100 0.01 1:50
    CMS PrimeCMS Prime $1,000 0.01 1:500
    Scandinavian Capital MarketsScandinavian Capital Markets $10,000 0.01 1:100

    You should open an account with a Shariah-compliant Forex broker if:

    • You would like to benefit from currency trading, but do not earn Riba.
    • You would like to trade without overnight swaps.
    • It is illegal to trade with non-Islamic brokers in your country.

    Forex trading bears intrinsic risks of loss. You must understand that Forex trading, while potentially profitable, can make you lose your money. Never trade with the money that you cannot afford to lose! Trading with leverage can wipe your account even faster.

    CFDs are leveraged products and as such loses may be more than the initial invested capital. Trading in CFDs carry a high level of risk thus may not be appropriate for all investors.

    Best Binary Options Brokers 2020:
    • Binarium
      Binarium

      Best Binary Options Broker!
      Perfect For Beginners!
      Free Trading Education!
      Free Demo Account!
      Sign-up Bonus:

    • Binomo
      Binomo

      Good Choice For Experienced Traders!

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